Mark Carney’s government tabled its 2025–26 main estimates, unveiling a $486 billion spending plan that mirrors the Trudeau administration’s final-year outlay but offers scant detail on funding sources or priority allocations.
Though the headline figure matches the $486 billion approved in the 2024–25 supplementary estimates, the main estimates omit roughly $24 billion in election commitments the Liberals pledged earlier this year. Notably absent are any details on the $3.5 billion Trade Diversification Corridors Fund and only a $42 million CBC boost—far short of the $150 million-per-year increase promised on the campaign trail.
The announcement drew sharp criticism from Conservative Leader Pierre Poilievre, who warned that “just like Justin Trudeau, Mark Carney’s spending is absolutely out of control. In fact, it’s worse.”
Conservatives have lambasted the government’s decision to defer its full budget, arguing that without revenue estimates, MPs cannot meaningfully debate a half-trillion-dollar spending envelope.
“With economic storm clouds moving in, how is it possible not to have a budget this spring?” Newmarket–Aurora MP Sandra Cobena demanded during the first question period of the new Parliament.
One of Carney’s most consequential policy reversals is the cancellation of carbon price rebates. Last year, provinces outside B.C. and Quebec received $11.67 billion; under the new plan, rebates drop to $3.5 billion, and small-business rebates fall by $1.9 billion. Yet the main estimates provide no insight into how much revenue Ottawa expects to collect from carbon pricing or other federal levies.
Beyond headline totals, departmental submissions signal mixed fiscal priorities. National Defence leads with a $33.9 billion request—including a 22% jump in its $10.9 billion capital budget—while Public Works seeks a 61% capital boost to $3.3 billion. Indigenous Services has applied for $25.2 billion to support First Nations programs, down $2.4 billion from last year, and Crown–Indigenous Relations wants $13 billion, $4.87 billion less than in 2024–25.
Government House Leader Steven MacKinnon insisted that Parliament will have “extensive examination” of every line item, with votes on the main estimates treated as confidence measures.
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